Hong Kong-listed mainland Chinese pharmaceutical companies are on track to deliver full-year profits, as surging drug sales and lucrative out-licensing deals with global partners start to pay off after years of research and development outlay. “Despite domestic challenges, particularly drug pricing pressure, the earnings performance of innovative drugs should still fare well in China in 2025,” said Tony Ren, head of Asia Healthcare Research at Macquarie Capital. Innovent Biologics, the first...